Armenia overcomes critical point: finance minister

28.10.2009 19:16
Armenia overcomes critical point: finance minister

YEREVAN, October 28, /ARKA/. Armenian Minister of Finance, Tigran Davtian, said today there are clear indications that the economy is back on recovery track.

Speaking at a news conference he said the lowest GDP fall was registered in July, while beginning from August the economy began to show signs of recovery. Armenian GDP fell by 18.5% in January-July, 2009, dropping to 1.417 trillion Drams or $3.789.6 billion.

According to the minister, the totals of August and September inspire some optimism and there are hopes that stabilization period will be replaced soon by the period of economic growth. In January-September the economy slashed by 18.3%. -0-

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